China has been cracking down on ICO’s and Cryptocurrency exchanges, but tides are changing. It seems that China is once again allowing ICO’s to make use of China’s market, under one condition however.
This is an article based upon the writers analysis and market speculation.
This condition is that NEO will most likely be used as the smart assets platform when conducting an ICO in China. This is because NEO is a Chinese open source public chain platform and it is not a secret that China prefers to keep things in Chinese hands.
After China’s ban on ICO’s, it has been quiet for a while. Even though that the most logical outcome would have been what now seems to come true. Which is that NEO will be leading China’s block-chain and cryptocurrency future. Onchain which is also run by the same CEO as NEO, Da Hongfei, has been in direct contact with the Chinese government for a while now.
Right now there are several Chinese ICO’s announced that will use NEO as its platform. There is also an ongoing ‘Decentralised applications’ (dApp) competition, that is looking for possibilities to combine its dApp(s) with NEO. These announcements come right after China has had its 19th Communist Party Congress. During this congress the Chinese Communist Party, strengthened its power by standing behind its leader: Xi Jinping. His vision of China is an optimistic one, where China is the new world leader. The world leader, especially in fields such as innovation and technology.
China, NEO and the future
NEO has put up and announcement in Chinese. According to Chinese sources, this is the type of ‘hype’ announcement which can be categorized as mysterious.
In this mysterious announcement, it says that in 3 days NEO will give us some news. This news will most likely regarding the future of NEO as a whole.
But this future will most likely also be the future of China when it comes to crypto. This is a sign of strength, a sign that China is looking for a long time partner in regards to block-chain and crypto.
The next Chinese party congress will be held in 5 years. These upcoming 5 years will be crucial for China to really make its position as a world leader stronger. By allowing ICO’s in collaboration with NEO, it seems that China is ready to put NEO’s potential to use. China’s ‘One Road One Belt’ iniative, is a development and connectivity strategy proposed by China. This strategy will most likely include forms of technology as well as block-chain technology. No matter if NEO is China’s chosen one, the rest of the world will have no choice but to follow.